(Last Updated On: January 23, 2015)
In pursuit of locking in more customers, Equity Bank has ventured into universities by forming partnerships to issue ATM cards which could also be used as ID cards for students. powered by MasterCard.
The card is known as Pay Pass and will be linked to accounts held at the bank. It be loaded by a student or guardian with specific instructions on where the money can be used. Topping up can be done at an Equity branch, agent or mobile money.
Equity has partnered with Africa Nazarene, Kenya Methodist, Baraton and Garissa universities. These are already issuing the cards.
Helb can also use the cards to build a profile for the loan beneficiaries then track their repayment records and transactions to prevent misuse of the funds.